Global Urinary Catheters Market to Expand at 5.10% Cagr 2014-2020, Fueled by Growing Geriatric Population Base

Transparency Market Research, in a recent report titled “Urinary Catheters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, states that the global urinary catheters market is anticipated to expand at a 5.10% CAGR from 2014 to 2020. The value of the urinary catheters market is projected to increase from US$1.6 bn in 2013 to US$2.3 bn in 2020.

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The global urinary catheters market is mainly driven by the rising incidence of disorders such as dementia, urine retention disorders, urinary incontinence, and multiple sclerosis. Growing demand for technologically advanced urinary catheters and the rapidly aging global population have also greatly propelled the urinary catheters market. While increased government support and high unmet needs in emerging economies presents lucrative opportunities for players in this market, the alarming rise in catheter-associated urinary tract infections (CAUTIs) is anticipated to adversely affect growth.

The urinary catheters market has been segmented on the basis of product type into Foley (indwelling) catheters, intermittent (temporary) catheters, and male external (condom) catheters. Accounting for a 58.70% share in the overall urinary catheters market, intermittent catheters emerged as the leading product segment in 2013. Intermittent catheters are preferred by patients and healthcare professionals over condom or Foley catheters for a number of reasons, the primary one being the rising occurrence of catheter-associated urinary tract infections (CAUTIs). Moreover, condom catheters have often been associated with leakage issues, resulting in their decreased demand. However, these condoms are non-invasive and hence this category of urinary catheters has been gaining prominence.

On the basis of geography, the global urinary catheters market is divided into North America, Latin...